Jay-Z Closes $66 Million New York City Real Estate Deal, Launching New 40/40 in Las Vegas

Jay-Z and a group of partners recently finalized a $66 million deal for a piece of prime property in New York’s trendy Chelsea neighborhood. According to the New York Post, Jay teamed up with J Hotels to purchase the property which stretches is located at 510 W. 22nd Street and stretches to 512 W. 21st Street. His partners include real estate developers Abraham Shnay and his son Scott, and Charles Blaichman, all of whom have previously been involved with high profile development projects in the city. "It's a great piece of property adjacent to the High Line in a great neighborhood," Scott Shnay told the Post. The group is currently trying to figure out what to build on the property. Options currently being considered include an art gallery or possibly a high end hotel.

In related news, Jigga and his business partner Juan Perez will host a grand opening party on December 30 to celebrate the launch of their third 40/40 franchise in Las Vegas. The 24,000 square foot high end sports bar will be located in the brand new Palazzo, a 53-story extension of the Venetian and Sands complex that is scheduled to open the same night. “We represent what the entertainment capital of the world is all about, it’s only natural we open here,” Jay said in a statement. The $20 million club will feature 85 plasma TV’s, 5 exclusive VIP rooms, 24-karat gold and platinum floors and five 40 foot bi-level bars.